Transitory Inflation? Not Anymore.

Inflation line on paper

If you weren’t paying close attention, you might have missed it. 

Fed Chair Jerome Powell dropped the word “transitory” when describing inflation during his recent testimony to Congress.

Powell had told the story of transitory inflation for the past several months while the Consumer Price Index showed eye-popping, year-over-year gains of 5% to 6%.2 

But now it appears that the Fed Chair has changed his tune. 

Powell said that rising energy prices, higher rents, and strong wage gains could keep inflation elevated, though he maintained that inflation would decline sometime in 2022.3 

So does that mean it’s time for investors to prepare their portfolios? 

Inflation and interest rates are only two factors in an overall investment strategy. And at this point, the Fed has only provided a rough timeline about when to consider raising short-term rates.4 

As hard as it can be, sometimes wait-and-see is the best approach. Recent market volatility has been making headlines, which can be unnerving. If you find yourself second-guessing your overall approach, give us a call. We’d welcome the chance to hear your thoughts. 

Source: Steve Lindquist – gbfinancial.org


  1. Reuters.com, November 20, 2021 
  2. BLS.gov, November 10, 2021 
  3. WSJ.com, November 30, 2021 
  4. CNBC.com, November 10, 2021 

The forecasts or forward-looking statements about the 2022 interest rates are based on assumptions, subject to revision without notice, and may not materialize. 

The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite, LLC, is not affiliated with the named representative, broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information and should not be considered a solicitation for the purchase or sale of any security.

You are now leaving Great Basin Federal Credit Union

Great Basin Federal Credit Union provides links to web sites of other organizations in order to provide visitors with certain information. A link does not constitute an endorsement of content, viewpoint, policies, products or services of that web site. Once you link to another web site not maintained by Great Basin Federal Credit Union, you are subject to the terms and conditions of that web site, including but not limited to its privacy policy.

You will be redirected to

Click the link above to continue or CANCEL

Ready to Apply?

Please click below to follow the link to our secure loan application.

Existing members – apply in Online Banking for a faster experience! If you’re not registered yet, click to Sign Up.

Ready to Apply?

Please click below to follow the link to our secure loan application.

Existing members – apply in Online Banking for a faster experience! If you’re not registered yet, click to Sign Up.

Ready to Apply?

Please click below to follow the link to our secure loan application.

Existing members – apply in Online Banking for a faster experience! If you’re not registered yet, click to Sign Up.

Ready to Apply?

Please click below to follow the link to our secure loan application.

Existing members – apply in Online Banking for a faster experience! If you’re not registered yet, click to Sign Up.

Ready to Apply?

Please click below to follow the link to our secure loan application.

Existing members – apply in Online Banking for a faster experience! If you’re not registered yet, click to Sign Up.

Holiday Closings 2023

  • Christmas

    Monday, December 26, 2022

  • New Year's Eve

    Monday, January 2, 2023

  • Martin Luther King Jr. Day

    Monday, January 16, 2023 (as well as Saturday, January 14th)

  • President’s Day

    Monday, February 20, 2023 (as well as Saturday, February 18th)

  • Memorial Day

    Monday, May 29, 2023 (as well as Saturday, May 27th)

  • Juneteenth: National Independence Day

    Monday, June 19, 2023

  • Independence Day

    Tuesday, July 4, 2023

  • Labor Day

    Monday, September 4, 2023 (as well as Saturday, September 2nd)

  • Nevada Day

    Friday, October 27, 2023 (as well as Saturday, October 28th)

  • Veterans Day

    Saturday, November 11, 2023

  • Thanksgiving Day

    Thursday, November 23, 2023

  • Family Day

    Friday, November 24, 2023 (as well as Saturday, November 25th)

  • Christmas Day

    Monday, December 25, 2023